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Originally Posted by Fogducker
Geez Dr Spivey, I guess I was wrong about GB Packers and also, there is NO Santa Claus! Come to think of it, he's (Santa) is all about the money too!
Fog
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To make it more clear, the team is publicly owned, not city owned. No one person or entity can own more than 4% of the team. The shares were sold to anyone who would pay for them. The last time shares were sold was 2011, at $250 each. The shares have no monetary value. They can't be sold, transferred or traded. They don't change in value or pay any dividends. If the team is ever sold, any proceeds go to The Green Bay Packers Foundation, a charity created by the team.
Other than a deluxe certificate suitable for framing, the only thing shareholders get is the opportunity to vote at the annual shareholders meeting. The only thing of significance voted on are the members of the 45 person board of directors. Those 45 elect the 7 person executive committee who ultimately run the organization.
There is no requirement that shareholders, board or executive committee members be residents of Green Bay and many are not.
The city and county have in fact taxed the citizens to help fund the team. They have provided other incentives as well. These taxes and incentives are much smaller than in other markets. If the financial equation didn't work, the city and county would cease to provide and the road to selling or moving the team would begin.
I'm not saying it's good, bad or any kind of conspiracy. It's just the reality of how the business of football is conducted in the league's smallest market. The NFL has rules in place to insure nothing like this ever happens again.
People love to have the view that the Packers are something down home and folksey, but in reality, it runs just like every other team. With a few odd little twists.